摘要
税负的粘性特征使得企业在经营状况不佳时反而承担了更高水平的税负,成为企业税负痛感的重要来源之一。本文构建企业层面的税负粘性指标,并在此基础上研究地方政府税收竞争对企业税负粘性的影响效果及其渠道,旨在为更深刻地理解如何通过减税降费缓解企业税负痛感提供经验证据。以2010—2018年中国沪深A股上市公司为研究对象,本文实证研究发现:地方政府的税收竞争行为显著降低了企业的税负粘性,且上述作用随地方政府征税努力程度的增加而加强。异质性分析发现,在非国有企业及制造业企业中,税收竞争对税负粘性的抑制作用更显著。以上结论在尽可能控制内生性问题以及进行一系列稳健性检验后依然成立。进一步研究发现,地方政府税收竞争无论对所得税税负粘性还是非所得税税负粘性均有显著抑制作用。从企业层面来看,税收竞争缓解了税负粘性对未来投资以及劳动力需求的负向影响,体现出有益的一面;然而,从地区发展来看,税收竞争本身对于缓解地方财政压力、促进地区经济增长不利,也体现出不足的一面。本文基于税负粘性这一新视角研究了税收竞争的微观影响及其作用路径,一方面为降低企业税负粘性、缓解企业税负痛感提供了新思路,另一方面则为更全面认识税收竞争的影响效果提供了参考。
The characteristics of corporates’tax stickiness lead companies to bear a higher level of tax burden when their business conditions are poor,which has become one of the important sources of enterprise tax pain.This article takes the lead in constructing a corporate-level tax stickiness index,and then studies the effect of local government tax competition on corporate tax stickiness and its mechanism,aiming to provide empirical evidence for how to alleviate the pain of corporate tax burden through reducing taxes and fees.Using a sample of Chinese A-share listed companies from 2010 to 2018,this paper shows that tax competition behavior of local governments significantly reduces the corporates’tax stickiness,and the higher the local governments’taxation efforts,the greater the inhibitory effect.Heterogeneity analysis finds that for non-state-owned enterprises and manufacturing enterprises,tax competition has a more significantly inhibitory effect.The main conclusions remained valid after dealing with endogeneity as much as possible and carrying out a series of robustness tests.Further research shows that local government tax competition has a significant inhibiting effect on both income tax stickiness and non-income tax stickiness.At the enterprise level,tax competition alleviates the negative impact of tax stickiness on future investment and labor demand,showing a beneficial side;however,from the perspective of regional development,tax competition itself is unfavorable for alleviating local financial pressure and promoting regional economic growth,which is a downside.From the novel perspective of tax stickiness,this paper studies the micro-impact of tax competition and its mechanism.On the one hand,it provides new ideas for reducing corporate tax burden and alleviating the pain of corporate tax burden.On the other hand,it provides a reference for a more comprehensive understanding of the impact of tax competition.
作者
魏志华
卢沛
WEI Zhihua;LU Pei(Xiamen University,Xiamen,China)
出处
《经济学动态》
CSSCI
北大核心
2021年第6期49-67,共19页
Economic Perspectives
基金
国家自然科学基金项目“中国上市公司避税天堂投资:动机、经济后果与治理机制”(71972163)
“控股股东股权质押动机、经济后果与治理机制研究”(71672157)
“中国制度和文化背景下公司财务政策的理论与实践研究”(71790601)。
作者简介
魏志华,厦门大学经济学院,邮政编码:361005,电子邮箱:finjoy@126.com;卢沛,厦门大学经济学院,邮政编码:361005,电子邮箱:flupei@126.com。
